GameStop Corp. (NYSE:GME) Director Acquires $102,879.00 in Stock

GameStop Corp. (NYSE:GME - Get Free Report) Director Lawrence Cheng purchased 4,140 shares of the business's stock in a transaction on Monday, July 8th. The stock was acquired at an average price of $24.85 per share, with a total value of $102,879.00. Following the completion of the acquisition, the director now directly owns 69,228 shares in the company, valued at approximately $1,720,315.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

GameStop Trading Up 0.5 %

Shares of GME traded up $0.12 during trading hours on Tuesday, hitting $24.57. The stock had a trading volume of 9,424,801 shares, compared to its average volume of 26,320,303. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83. The firm has a market cap of $8.63 billion, a P/E ratio of 303.63 and a beta of -0.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22. The company's fifty day simple moving average is $24.17 and its 200 day simple moving average is $17.51.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings results on Friday, June 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $881.80 million for the quarter, compared to analyst estimates of $995.30 million. GameStop had a return on equity of 1.78% and a net margin of 0.51%. The business's revenue was down 28.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.14) earnings per share. Equities research analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. StockNews.com raised shares of GameStop to a "sell" rating in a research note on Thursday, June 20th. Wedbush lowered their target price on shares of GameStop from $13.50 to $11.00 and set an "underperform" rating for the company in a report on Wednesday, June 12th.

Hedge Funds Weigh In On GameStop

A number of hedge funds have recently made changes to their positions in GME. Vanguard Group Inc. increased its holdings in GameStop by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company's stock valued at $446,143,000 after purchasing an additional 167,145 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of GameStop by 12.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company's stock worth $45,693,000 after buying an additional 289,947 shares during the period. Van ECK Associates Corp grew its stake in shares of GameStop by 11.1% in the first quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company's stock valued at $18,519,000 after buying an additional 147,655 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of GameStop by 2.6% in the first quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company's stock valued at $12,662,000 after buying an additional 25,159 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of GameStop by 0.3% during the 1st quarter. Swiss National Bank now owns 542,828 shares of the company's stock valued at $6,796,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 29.21% of the company's stock.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.

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